China has granted temporary export licenses to rare-earth suppliers of the top three U.S. automakers, two sources familiar with the matter said, as supply chain disruptions begin to surface from Beijing’s export curbs on those materials. At least some of the licenses are valid for six months, the two sources said, declining to be named…
He said the government has incentivized hybrid cars under subsidy schemes such as FAME II, and hybrid ambulances under PM E-drive. In addition, under the PLI-Auto scheme, the government supports all kinds of fuels besides EVs, including CNG, LNG and biofuels. “Under the FAME-II Scheme, EV (electric vehicles) and hybrid version of e-4W was allowed…
This is Chakan’s MIDC Phase-II, home to factories of the biggest auto and industrial manufacturers in India. And in the midst of the factories owned by Bajaj, Tata and Hyundai lies a strange white dome fronted by a low, grey façade. Enter and you’re greeted with a velvety red carpet and double doors into a…
Bengaluru: Apple has brought in Tata Group to handle repairs for iPhones and MacBook devices in its fast-growing Indian market, signalling the Indian conglomerate’s deepening role in the U.S. tech giant’s supply chain, two people familiar with the matter said. As Apple looks beyond China for manufacturing, Tata has fast emerged as its key supplier…
Mumbai: India will need to invest about 2% of its real gross domestic product (GDP) annually in the power sector over the next decade to meet its 2070 net-zero pledge, Moody’s Ratings said on Wednesday. The renewable energy sector is expected to add 450 gigawatts (GW) of clean energy capacity during this period, while coal-based…
Data from Capitaline showed that PSUs reported a drop in total bad assets— loans where repayments are overdue by over 90 days — in FY25 and FY24. Bad loans of public sector banks decreased 16% year-on-year (y-o-y) to ₹2.84 trillion in FY25, from ₹3.4 trillion in FY24 and ₹4.3 trillion in FY23. In comparison, private…
The trend may have started with shows such as Panchayat in April 2020. Now, it has spread as makers take shows to small, remote parts of the country, whether it is Punjab in Kohrra or the northeast in the latest season of Paatal Lok, cashing in on local dialects and talent. While the common perception is that OTT…
New Delhi: India is looking to give a significant boost to its production-linked incentives for drug manufacturing, particularly in terms of its ambition to reduce the domestic pharmaceutical industry’s dependence on China for its raw materials. The upgraded PLI scheme will include more molecules used in manufacturing key starting materials (KSMs), drug intermediates, and active…
While GIFT City has seen a steady rise in new funds, it has struggled to lure funds out of established offshore centres. As of March, India’s financial centre had 229 funds, as per IFSCA quarterly bulletin. However, according to an official aware of the matter, a mere 13 of them, including Alchemy India Long Term…
Better profitability and revenue from global capability centres (GCCs) have helped the staffing firms offset slowdown in their income from the country’s $283 billion IT sector, which has gone slow on hiring engineers in the past couple of years. GCCs contributed about 4.2%, or ₹153 crore, of Quess’s January-March revenue. TeamLease, on the other hand,…